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Essay / Research Paper Abstract
A 6 page paper critically assessing the statement, "Lack of controls on money laundering is one of the most important contributory factors behind the growth of 21st century terrorism." After reviewing the needs of business; increase in international capital movement over the past decade; and the example of Paraguay's customs function, the paper concludes that there is no conclusion possible but to agree with the original statement under consideration. Bibliography lists 7 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSfinMonLaunTer.rtf
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Unformatted sample text from the term paper:
controls on money laundering is one of the most important contributory factors behind the growth of 21st century terrorism." The purpose here is to critically assess this statement. International
Capital Movement and Transformation Several years ago, Britains The Economist reported that in the late 1980s, "about $190 billion passed through the hands
of currency traders in New York, London and Tokyo every day. By 1995 daily turnover had reached almost $1.2 trillion" (Capital goes global, 1997; p. 87). Private capital
movement increased at much the same rate. In 1990, about $50 billion in private capital flowed into emerging markets; by 1996 that amount had increased to $336 billion (Capital
goes global, 1997). That trend slowed some after the advent of the Asian currency crisis in 1997, but it slowly recovered to begin its inexorable growth once again.
The capital that flows into developing economies can just as well flow out again, as was the case just prior to Argentinas financial collapse.
More than ever, currency risk managers must be able to protect clients capital investments. This frequently takes the form of moving large sums of capital from one market
to another, from one currency to another. Money can be difficult to trace when it remains in a single currency and within a single country. Multiple conversions to
one currency and then to another, followed by another complicates any fund tracing efforts. When those funds are transferred in and out of foreign countries, the task becomes doubly
daunting. Business Needs These hedging activities are normal, common and quite acceptable in the course of legitimate business, and in fact have become
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